“We came to the realization that there are many $4 drug programs out there and Wal-Mart got a lot of the hoopla when they introduced them,” stated Bruce Liebowitz, the COO of Medtipster in an interview with The Detroit News.
MedTipster is a web startup company based out of Troy, Michigan. The concept of the service is that a user enters in their zip code and prescription. The site will then find local pharmacies that offer the prescriptions at discount prices.
Liebowitz is an industry veteran in the pharmaceutical industry. He used to own a pharmacy benefit management company called 4D Pharmacy Management Systems in the city of Troy.
MedTipster launched in beta around February and plans on launching fully next month. The site has funding from another pharmacy benefit manager. MedTipster plans on earning revenue by eventually charging pharmaceutical companies listings to the search engine. MedTipster currently searches for the deals from websites listing the deals.
MedTipster currently searches for the deals from websites listing the deals.
MedTipster isn’t the only organization in Michigan to offer this service. The Michigan Department of Community Health offer a similar service called “Rx Price Finder.” However Leibowitz stated that MedTipster offers a more friendly user interface. MedTipster even offers a live chat tool that allows users to IM questions to pharmacists. MedTipster plans on launching a mobile version shortly.